Oil, Exxon Mobil | featured news

Rex Tillerson, the boss of ExxonMobil admitted last week that the price of oil–based purely on supply and demand- should be in the $60 to $70 a barrel range. The reason it’s above $100 a barrel, Tillerson explained, is due to the oil majors using futures contracts to lock in current high prices, and speculation that is engineered by the high-frequency trading of quantitative hedge funds.

Exxon Mobil and Royal Dutch Shell Plc reported big jumps in first quarter earnings and beat forecasts, thanks to high oil prices and healthy refining margins.

Exxon Mobil 3Q income increases 55 percent to $7.35 billion on higher oil prices

Exxon Mobil Corp. on Monday said last year's profit of $19.3 billion was its smallest since 2002 as higher oil prices squeezed profit margins in its refining business....

Exxon’s purchase of XTO, which has expertise in the growing area of shale gas, is one of the biggest energy deals in years.

Though it has resisted the slump better than most oil companies, Exxon’s profit fell 68 percent in the quarter.

Exxon Mobil, the world's largest oil company, has posted a sharp fall in quarterly profits as the price of oil dropped from its peak.

Hit by falling oil prices, Exxon Mobil reported a 33% drop in quarterly profit Friday, but its annual profit of $45.22 billion set a record for any U.S. company.